PNB Housing is looking to raise as much as Rs 2,000 crore through the “limited preference" route, under which a maximum of five investors can participate, the people said on condition of anonymity.
Funding to real estate has got constrained over the past year which has resulted in many projects being stuck because of a lack of funds to complete the project.
Global brokerage house Jefferies said that although the company’s Q1 profit rose, it missed estimates due to lower net interest income. Higher provision negated the lower operating expense, it added.
Total income for April-June quarter of 2019-20 increased to Rs 2,232.58 crore from Rs 1,648.31 crore in the same period of the previous fiscal, PNB Housing Finance said in a release.
On March 29, PNB had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore.
On March 29, the bank had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore
Motilal Oswal is bullish on PNB Housing Finance has recommended buy rating on the stock with a target price of Rs 875 in its research report dated May 09, 2019.
PNB Housing said its board of directors recommended a final dividend of Rs 9 per equity share for 2018-19.
The net interest margin for the quarter stood at 3.18 per cent, compared to 3.59 per cent a year ago.
The Competition Commission of India (CCI) in a tweet May 8 said it 'approves acquisition of 6.5 per cent of the equity share capital of PNB Housing Finance Ltd by General Atlantic Singapore HF Pte Ltd'.
The housing finance arm of the Punjab National Bank will announce the fourth quarter results on May 9.
Arihant Capital recommended accumulate rating on PNB Housing Finance with a target price of Rs 998 in its research report dated April 10, 2019.
Net Interest Income (NII) is expected to decrease by 21.2 percent Y-o-Y (up 0.6 percent Q-o-Q) to Rs. 356 crore, according to Kotak.
Referring to a PIL filed in the Delhi High Court, PNB Housing Finance Ltd (PNBHFL) said the allegations are "false" and that it would be filing a detailed response to the petition.
The non-banking finance company will allot the secured redeemable non-convertible debentures (series XLIV) on Thursday (Feb 28, 2019), PNB housing Finance said in a regulatory filing.
This is the verbatim transcript of PNB Housing Finance management call with analysts.
'I keep saying that our growth rates will be above 1.5-1.7 times of the industry growth rate, we are maintaining that,' said PNB Housing Finance's Sanjaya Gupta
Motilal Oswal is bullish on PNB Housing Finance has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated January 24, 2019.
Total income of the housing finance company rose to Rs 2,078.46 crore as compared to Rs 1,416.21 crore in the same period a year ago.
Net Interest Income (NII) is expected to increase by 25.5 percent Y-o-Y (up 0.1 percent Q-o-Q) to Rs. 463.3 crore, according to Sharekhan.
Net Interest Income (NII) is expected to decrease by 5.6 percent Y-o-Y (up 1.2 percent Q-o-Q) to Rs. 387.9 crore, according to Kotak.